Allspring Global Investments Holdings LLC Sells 263,434 Shares of Franklin Electric Co., Inc. $FELE

Allspring Global Investments Holdings LLC trimmed its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 14.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,594,146 shares of the industrial products company’s stock after selling 263,434 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Franklin Electric were worth $149,244,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FELE. Royal Bank of Canada increased its stake in shares of Franklin Electric by 81.6% in the 1st quarter. Royal Bank of Canada now owns 3,997 shares of the industrial products company’s stock worth $375,000 after acquiring an additional 1,796 shares in the last quarter. AQR Capital Management LLC grew its holdings in Franklin Electric by 105.5% in the first quarter. AQR Capital Management LLC now owns 25,463 shares of the industrial products company’s stock worth $2,390,000 after purchasing an additional 13,075 shares during the period. NewEdge Advisors LLC grew its holdings in Franklin Electric by 30.6% in the first quarter. NewEdge Advisors LLC now owns 5,760 shares of the industrial products company’s stock worth $541,000 after purchasing an additional 1,349 shares during the period. United Services Automobile Association bought a new position in shares of Franklin Electric during the first quarter valued at approximately $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Franklin Electric by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,162 shares of the industrial products company’s stock valued at $12,877,000 after purchasing an additional 10,862 shares in the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

Franklin Electric Stock Up 3.2%

Franklin Electric stock opened at $107.73 on Friday. The stock has a market cap of $4.76 billion, a PE ratio of 32.45, a price-to-earnings-growth ratio of 1.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.14 and a current ratio of 2.67. Franklin Electric Co., Inc. has a one year low of $89.54 and a one year high of $111.53. The stock has a fifty day moving average of $101.64 and a 200 day moving average of $99.67.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. The business had revenue of $500.44 million for the quarter, compared to analysts’ expectations of $479.21 million. Franklin Electric had a return on equity of 14.86% and a net margin of 6.91%.The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $0.67 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. As a group, sell-side analysts predict that Franklin Electric Co., Inc. will post 4.58 EPS for the current year.

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Thursday, May 7th. Franklin Electric’s dividend payout ratio is 33.73%.

Analyst Ratings Changes

A number of brokerages have recently commented on FELE. DA Davidson reissued a “neutral” rating and issued a $100.00 price target on shares of Franklin Electric in a research report on Tuesday, June 16th. Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a research note on Tuesday, June 9th. Finally, Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $106.00.

Insider Buying and Selling

In other Franklin Electric news, insider Jonathan M. Grandon sold 8,547 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total transaction of $883,759.80. Following the completion of the sale, the insider directly owned 7,509 shares of the company’s stock, valued at approximately $776,430.60. This represents a 53.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Delancey W. Davis sold 1,900 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total transaction of $190,000.00. Following the completion of the transaction, the insider owned 10,402 shares in the company, valued at $1,040,200. The trade was a 15.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 19,835 shares of company stock worth $2,004,982. 2.89% of the stock is currently owned by insiders.

About Franklin Electric

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.